The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Stephens Production Co. retained EnergyNet for the sale of certain oil and gas properties including a large asset package located throughout Colorado, Michigan, North Dakota, Oklahoma, Texas and Wyoming.
The sealed-bid offering comprises 243 properties and includes nonoperated working interest, overriding royalty interest (ORRI) and royalty interest generating around $250,000 a month in cash flow. Bids are due at 4 p.m. CST on Feb. 10. The transaction is expected to close in early March with an effective date of Jan. 1.
- Nonoperating Working Interest in 56 Properties:
- Average Working Interest ~19.81% / Average Net Revenue Interest ~16.53%
- 51 Producing Properties | One Saltwater Disposal | Four Shut-In Properties
- Select Operators: ConocoPhillips and MD America Energy LLC
- Royalty Interest in 105 Properties:
- Average Royalty Interest ~4.27%
- 85 Producing Properties | 20 Shut-In Properties
- Select Operators: Blackbeard Operating LLC and Merit Energy Co.
- ORRI in 75 Properties:
- Average ORRI ~0.32%
- 63 Producing Properties | 12 Shut-In Properties
- Select Operators: Birch Operations Inc. and Hilcorp Energy Co.
- Participating Minerals in Seven Producing Properties:
- Average Working Interest/Net Revenue Interest ~1.46%
- Operators: EOG Resources Inc. and SM Energy Co.
- Six-month Average 8/8ths Production: 10,123 bbl/d of Oil and 33,712 Mcf/d of Gas
- Six-month Average Net Income: $256,504/Month
Separately, Stephens Production Co. also retained EnergyNet for the sale of a seven-well Mississippian Play package with operations plus HBP leasehold acreage in Oklahoma’s Woods County. Bids for the separate package are due by 1:35 p.m. CST on Feb. 9.
For complete due diligence information on either package visit energynet.com or email Cody Felton, vice president of business development, at Cody.Felton@energynet.com, or Denna Arias, vice president of corporate development, at Denna.Arias@energynet.com.
2022-05-16 - Crude oil stockpiles in the U.S. Strategic Petroleum Reserve fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed.
2022-05-16 - Prince Abdulaziz bin Salman said production could be maintained at that level should market demand require it.
2022-05-19 - Imports of fuel oil from Latin America averaged some 200,000 bpd in March and April, which is 49% higher than in the previous 12 months.
2022-05-10 - Early in the session, comments from the Saudi and UAE energy ministers boosted Brent and WTI up by over $1/bbl. “These are volatile times, the daily price bars are outsized these days,” said John Kilduff, a partner at Again Capital LLC.
2022-03-10 - RED President Steve Hendrickson considers whether U.S. “energy independence” is an achievable goal.